HUM - Why Humana Stock Lagged the Market Today
Top health insurance company Humana (NYSE: HUM) wasn't necessarily tops with investors on Wednesday. After reporting its latest set of quarterly figures, the company's share price bumped slightly higher, by 0.3%, which wasn't high enough to beat the S&P 500 index's more than 1% increase.
It's not that Humana's results for the fourth quarter 2022 were bad or uninspiring; it's just that they didn't excel.
For the period, the insurer's total revenue was $22.44 billion, up nearly 7% on a year-over-year basis. That filtered down to a non-GAAP (adjusted) net profit of $263 million, or $1.62 per share. This result significantly bettered (by 58%) the $166 million adjusted net profit Humana recorded in the fourth quarter of 2021.
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Why Humana Stock Lagged the Market Today